Firmex Virtual Data Room Pricing, Features, Reviews & Comparison of Alternatives

Firmex Virtual Data Room

Securely store and share highly confidential documents

4.65/5 (54 reviews)

Firmex Virtual Data Room overview

What is Firmex Virtual Data Room?

Firmex Virtual Data Room is a secure online platform for sharing confidential documents within companies such as investment banks, law firms, private equity groups, and corporations. The platform provides a highly adaptive interface that can be tailored to accommodate various types of business workflows. It supports large-scale collaboration and complex security scenarios with numerous parties, and aims to help close more profitable deals quicker, and more efficiently.

Firmex Virtual Data Room integrates with the organization’s IT system and provides a customizable interface with personalized branding. The solution enables users to streamline numerous business practices including document viewing, uploading, and revisions, as well as note sharing and collaborations.

Users can invite other individuals or entire teams to a deal and set permissions, granting and restricting access as needed. Permissions can be applied to entire projects, folders, documents, or users. Users can easily drag files or folders into the data room using the drag and drop feature, and tag documents to track changes and assign tasks.

Historical document tracking is simple with the solution’s ‘versions’ feature that automatically displays the most recent version of a document. It also allows users to look back through previous versions to see what changes were made in the past. Users can apply dynamic watermarks to documents, restrict downloading and printing, as well as track and audit user activity. With Firmex, all data is kept in secure data centers with fire and disaster safeguards, along with keycard and biometric access.
www.firmex.com

Pricing

Pricing options
One time license
Subscription
Value for money
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Devices

Business size

S
M
L

Markets

United States, Canada, Europe

Supported languages

English, French
Firmex Virtual Data Room screenshot: Keep documents safe by viewing online without downloadingFirmex Virtual Data Room - Fast DemoFirmex Virtual Data Room screenshot: Customizable DRM (digital rights management) for documents Firmex Virtual Data Room screenshot: Users can upload an entire project in one stepFirmex Virtual Data Room screenshot: Docuements are uploaded using drag-and-dropFirmex Virtual Data Room screenshot: Files are organized the same way they were on the users's hard driveFirmex Virtual Data Room screenshot: Clicking on a document allows users to view the document online without leaving the dataroomFirmex Virtual Data Room screenshot: Users can bulk invite contacts, add contacts manually (one user at a time), or search for contactsFirmex Virtual Data Room screenshot: Permissions can be applied as general, or as granular as neededReview Documents Faster: Quick view, search, listings - Firmex VDRSmart Upload and Folder Merge - Firmex VDR

Firmex Virtual Data Room reviews

Value for money
Features
Ease of use
Customer support
  4.6
  4.4
  4.6
  4.8
Eamon McElroy

Firmex Virtual Data Rooms review

Used weekly for 6-12 months
Reviewed 2018-10-04
Review Source: Capterra

Pros
Very easy to use, fantastic customer service - rep. has been brilliant & always available if we have any issues at all. Also, very easy to create indexes etc. and very straightforward to upload documents. Overall we are extremely pleased with our experience.

Cons
Timestamps on documents cannot be changed to local times, only EST is available. As we are based in Ireland, it would be a good addition if we can timestamp documents in GMT/BST.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Ian Noel

Simple, yet valuable

Used daily for 2+ years
Reviewed 2019-05-29
Review Source: Capterra

I've used Firmex DVR on many projects and it's much easier to use than other solutions. Data rooms requiring training will reduce the utilization by the project team.

Pros
Firmex VDR is easy to use. It offers the ability to toggle quickly between projects, has an intuitive folder structure, and allows for easy uploading and viewing of documents.

Cons
Having an embedded version control option would be valuable, with an easy way to distinguish between drafts and final versions of documents.

Response from Firmex


Hi Ian,

Thanks for the review! With regard to Firmex having an embedded version control option, you'll be glad to know that we have one. Here's a quick summary of our versioning and document status options:

Firmex's versioning feature is built-in to our system. You can choose to upload a new document, or a new version of a document. You and your team can always access the version history, while only giving guests users access to the latest version of the document (the "document of truth"). Firmex can also detect new versions of a document based on the content of the document.

Firmex also supports content status on documents and folders. Many of our customers use this content status to designate whether a document is in draft, awaiting review, or final. This usually coincides with our document comment and tag systems.

Your Customer Success Manager will follow up with you to demonstrate these features at your convenience.

Kyle Bardsley
Senior Director, Customer Operations & Growth

Rating breakdown

Ease of use
Features

Likelihood to recommend: 9/10

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Anonymous

Overall Good, But No Bells & Whistles

Used daily for 2+ years
Reviewed 2019-05-29
Review Source: Capterra

Overall good, but limited customer support.

Pros
Easy to use. Cost effective. User-friendly. Intuitive.

Cons
Highly limited functionality and user analytics.

Response from Firmex


Hi there,

Thank you for your feedback. We're very pleased you're happy with our platform. We're constantly working on improving our product, releasing new updates each month to bring new functionality to our amazing customers.

We very much appreciate the importance of having clear, easily accessible analytics when it comes to your various dataroom needs. For this reason, one our main focuses for the 2019 Product Road-map is improving reporting functionality.

If you're interested about hearing more about the upcoming releases, or have questions about product functionality, I'd be happy to arrange a call to discuss at your convenience. Alternatively, our award-winning Support Team is available 24/7/365.They can be reached at 1.888.688.4042 x11 or support@firmex.com.

Thanks again for choosing Firmex,

Kyle Bardsley
Senior Director, Customer Operations & Growth

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 7/10

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Matt Improta

Excellent Choice for a VDR

Used weekly for 2+ years
Reviewed 2016-07-14
Review Source: Capterra

Our firm has used Firmex VDRs for dozens of investment banking transactions and are very pleased with the product they put out as well as the support and service we receive.

Pros
The functionality is perfect for running a VDR to share documents and files with many parties while controlling the document flow and accessibility of any party on any document. The product is very competitively priced compared to a lot of the service providers out there. Customer service is very prompt and happy to walk you through any issue, small or large. Firmex is also continually improving its services.

Cons
Security functionality is limited once the files have been downloaded by another party (if you allow them to download). Once a party bulk downloads you lose the ability to track their access and usage of documents and delete the document if you would like to remove their access from the information completely.

Response from Firmex


Hi Matt,

Thanks so much for taking the time to reflect on your Firmex experience.

We very much understand the benefits of being able to track how your users are interacting with files once they've been downloaded. We do offer a selection of Seclore-supported document protection options that can be applied to help monitor the document activity of your users even after the documents have been downloaded from the platform. The Lock to Computer, Expire Access and No Print document protections will give you the insight you're looking for!

I encourage you to reach out to your Firmex rep or Firmex Support to get more information and explore if these protections are right for your project.

Many thanks,

Maren Van Zutphen
Customer Success Manager

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

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Anonymous

Firmex Virtual Data Room

Used daily for less than 6 months
Reviewed 2019-01-10
Review Source: Capterra

For the Real Estate and Investment banking, the sharing of confidential documents within the company and taking on projects being in a group has been made easier. The legal documents and the finances which cannot be exposed can be accessed and updated from anywhere with Login access, for example on my iPhone. Tracking old files is much easier, as we go through sharing hundereds of files everyday with corrections pointed and re-corrected.

Pros
The custom sharing platform which is secured and the visibility control for employees. The best part of software is the document validity & password we can set and the people we can choose from list that can access or view the documents. Also the same document cannot be shared by E-mail or any other non Data-room platform and if done. We can control the share and track of the confidential documents.

Cons
The drawback of this software is that we cannot assign different permission or access levels to people in same group. Also, the time stamp cannot be changes to local time, it's always EST available.

Response from Firmex


Hello!

Thank you for using Firmex. We pride ourselves on our customer service and you having the best experience.

In the future, we would be happy to show you how to set user-based permissions in the data room. It's a function we have to set from our end, as group-based permission is the preference of a majority of our users, it's our default.

In terms of time zones, increased functionality is on our road map. As it stands now all of our reports can be run at any time zone, be it est, your time zone, or anyone you choose.

Happy to jump on a quick call at your convenience.

Thanks you,

Jason @ Client Success

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 8/10

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Firmex Virtual Data Room pricing

Pricing options
One time license
Subscription
View Pricing Plans

Single-Use Data Room
One-time fee

Multi-Use Subscription
Annual fixed fee

Contact Firmex for pricing details.

Firmex Virtual Data Room features

Access Control
Collaborative Workspace
Customizable Branding
Drag & Drop Interface
Permission Management
Projections

API (316 other apps)
Activity Dashboard (184 other apps)
Activity Tracking (137 other apps)
Automatic Notifications (186 other apps)
Chat (158 other apps)
Collaboration Tools (342 other apps)
Commenting (197 other apps)
Document Management (196 other apps)
Document Storage (219 other apps)
File Management (139 other apps)
Reporting & Statistics (137 other apps)
Search Functionality (260 other apps)
Third Party Integration (220 other apps)
Workflow Management (145 other apps)

Videos and tutorials

Additional information for Firmex Virtual Data Room

Key features of Firmex Virtual Data Room

  • Multiple levels of security
  • Biometric safeguards
  • Customizable DRM for documents
  • Customizable access settings
  • Two-factor password authentication
  • HIPAA & SOC 2 Compliance
  • Compliant with EU Data Protection Directive
  • Compliant with UK Data Protection Act
  • Upload anything with drag & drop
  • Add and invite users
  • Expire access to documents
  • Restrict saving & printing
  • Auto-organize new documents with versioning
  • Track & audit document and user activity
  • Check security settings
  • Apply dynamic watermarks
  • Upload via email
  • Forward attachments from a mobile device
  • Track historical documents
  • Collaboration tool
  • Full version history
  • Permissions
  • Preview data room as a specific user
  • Document viewer tool
  • Invite users
  • Document expiry dates
  • Permission to print and download
  • Branding
  • Tag documents
  • Rename and reorganize
  • Document recognition
  • Assign roles to users
  • Restrict access
View All Features

Benefits

Firmex's 'Email-in' feature lets users upload documents to the data room via email while out of the office.

Users are in full control of their documents with security settings like access expiry, saving and printing restrictions, dynamic watermarks, and more.

Firmex offers project consultation for creating the best fitted data room to match the organization's needs.

Users can simply send their hard drives to Firmex, and they'll send back a completed and organized data room ready-for-use.

Firmex virtual data rooms store data in secure data centers that hold all major North American, European, and international security certifications.